Berehaven Credit Union Limited

Last updated 24/07/2015

Background

The ICCL was informed by the Central Bank of Ireland that Berehaven Credit Union Limited ["BCUL"] was put into liquidation by the High Court on 31 July 2014. The action by the High Court constituted a "Court Ruling" for the purposes of the Investor Compensation Act, 1998 ["Act"].

On being informed of the Court Ruling the ICCL published a notice in a national newspaper, giving notice of the Court Ruling. Please click here to view the notice published. The ICCL also wrote to relevant members of BCUL to inform them of their potential entitlements under the Act.

If you are a member who has conducted investment business with BCUL and you believe that BCUL has failed to return money or investment instruments, which you had entrusted to it in connection with the provision of investment business services, you may be entitled to make a claim under the Act. If you require a claim form, please email the ICCL to request a BCUL claim form at info@investorcompensation.ie.

 

Applying for Compensation

An application for compensation under the Act must be submitted to us on the claim form provided for this purpose. Claim forms are only available from the ICCL. Members should complete a claim form only if they believe that BCUL has failed to return money or investment instruments which they entrusted to it.

The Statutory deadline for clients of BCUL to apply for compensation under the Investor Compensation Act 1998 passed on 7 January 2015.

The ICCL continue to accept claim forms, however, claimants are required to include a written reason for the delay when submitting a claim application to the ICCL.

The Central Bank of Ireland will have to be satisfied that the claimant was unable to make the claim in advance of the statutory deadline before the claim can be processed.

 

Where can I get further information on claiming compensation?

Click here to read the ICCL's information booklet for private investors "claiming compensation when an investment firm fails".